By Anthony O. Goriainoff
Wizz Air Holdings PLC said Thursday that it swung to a pretax profit as revenue for the third quarter of fiscal 2023 rose on increased passenger numbers.
The budget airline with a focus on eastern Europe said that for the three months to Dec. 31 pretax profit was 36.4 million euros ($45.2 million) compared with a pretax loss of EUR266.1 million for the third quarter of fiscal 2022.
Revenue rose to EUR911.7 million from EUR408.4 million in the year-prior period. Passenger ticket revenue surged to EUR464.7 million from EUR162.3 million the year before with ancillary revenue rising 82% to EUR447 million. The London-listed company said this was driven by higher operating capacity and a higher load factor.
Wizz Air said it carried 12.4 million passengers in the period compared with 7.8 million the year before.
Average revenue per passenger rose to EUR73.57 from EUR52.42 the year before, with average ticket revenue per passenger rising to EUR37.50 from EUR20.84 in the third quarter of fiscal 2022.
Net loss for the nine months ended Dec. 31 was EUR350.8 million compared with EUR388.4 in the same period a year earlier. It added that although it continued to expect an overall net loss for fiscal 2023 it was confident that fiscal 2024 will be profitable.
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